The British Pound has fallen to a six-week low against the U.S. Dollar and a two-week low against the Euro as investors turn increasingly pessimistic about the global outlook, however one analyst we follow says the Pound should ultimately remain well supported thanks to the country's vaccine rollout programme.
The Krone tumbled on Tuesday but remained a leading contender for outperformance in 2021, according to analysts at Nordea Markets, Goldman Sachs and HSBC among others, who cite the likelihood of Norges Bank interest rate rises this summer for upgraded or otherwise simply bullish forecasts.
The Lira was crushed early in the new week with losses rivalled those seen by Pound Sterling following the 2016 Brexit referendum after another Central Bank of the Republic of Turkey Governor was shown the door after only a months-long tenure in an apparent political response to last week's interest rate rise.
Although the Pound failed to rally in the wake of the March Bank of England decision, the narrative surrounding the central bank and the economy over coming months will likely be supportive of the currency.
The Lira turned back onto recovery road leading GBP/TRY, USD/TRY and EUR/TRY to topple on Thursday after the Central Bank of the Republic of Turkey (CBRT) more-than met expectations with its latest interest rise, prompting some analysts to suggest forecast upgrades are on the way.